In response to global prices and currency fluctuations, the three state-owned oil marketing companies (OMCs) have decided to increase the price of petrol and diesel from midnight Saturday.
According to Indian Oil Corporation (IOC), petrol price will be increased by Rs 1.34 per litre excluding state levies, whereas diesel would become expensive by Rs 2.37 per litre.
"The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant increase in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision," IOC said in a statement.
"The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes."
The new prices of non-branded petrol in metros like New Delhi would come to Rs 66.45 per litre, Kolkata Rs 69.08, Mumbai Rs 72.83 and Chennai Rs 65.96.
The revised prices of non-branded diesel in New Delhi would come to Rs 55.38 per litre, Kolkata Rs 57.64, Mumbai Rs 61.05 and Chennai Rs 56.95.